Currently, medium-term Bitcoin holders, especially those who hold their coins for 6 to 12 months, are realizing profits. This phenomenon is similar to the 2015-2018 bull run, when large-scale profit-taking eventually led to a new rally.
Currently, despite price fluctuations, demand for Bitcoin is growing. Long-term holders are beginning to distribute their Bitcoin to new buyers, indicating that the market is attracting new funds. However, the proportion of new investors has not yet reached historical highs, and future price increases depend on whether this trend continues.
Bitcoin currently finds support near $95,000. If it breaks through this level and holds there, it will be expected to re-challenge $100,000. If the support level cannot be maintained, the price may fall to $89,800, losing the bullish signal.
After looking at the overall market situation, let’s take a look at the current trend of mainstream altcoins.
SUN
Sol is currently in a critical consolidation phase as investors and traders focus on a possible breakout. The emergence of a bullish flag pattern suggests that the asset could be poised for a surge in value. Analysts believe that this accumulation period could push Sol’s price to $315 as market confidence grows and strategic positioning drives the market. Such patterns often appear before a major surge, which is consistent with a positive Sol price prediction.
In addition, Sol's outflow of $112.29 million of SOL indicates increasing demand, and the transfer to private wallets reduces the circulating supply, increasing demand and price potential. This shows investors' long-term trust in the Sol ecosystem. Sol's total locked value (TVL) recently increased by $618.4 million, reflecting the increased activity of the protocol, which further reinforces the market's optimistic expectations for Sol's price.
XRP
The recent sharp drop of more than 23% reflects the instability of the market and exacerbates negative sentiment. However, whale investors have stepped up their buying during this period, and in the past 24 hours alone, whales have accumulated 110 million XRP, showing confidence in the long-term prospects of $XRP . Historical data shows that whale activity during price declines usually indicates potential future gains.
Although XRP still faces challenges in the short term, the aggressive accumulation of whales shows that they are focused on the long-term potential. XRP is currently holding above the critical support level of $1.90, which is considered the last line of defense for bulls. If it stays above this level, XRP may usher in a recovery.
Analysts believe that XRP’s breakout of the critical range between $1.90 and $2.60 will pave the way for future gains. The continued accumulation of whales has increased market optimism, so if XRP can break through these resistance levels, it may usher in a rapid rebound.
AVAX
Market interest in $AVAX is rising, with significant growth in both active addresses (AA) and new addresses (NA). Over the past seven days, AA has grown by 44.5% and NA has surged by 142.9%, showing that the asset has attracted more active trading from new players and existing investors.
Whales are also driving the growth, especially addresses holding between $1 million and $10 million of AVAX, which increased by 24.08%. Addresses of other investor categories also showed growth, indicating that the overall market sentiment is bullish.
Additionally, net AVAX outflows from the exchange increased significantly, with $9.61 million in AVAX withdrawn in the past 24 hours, the highest outflow since April 2022. At the same time, open interest funding rates recovered, indicating that mature traders are positive about a potential rebound. If market sentiment continues to improve, AVAX may see a significant rebound.
GALA
$GALA After rising more than 100% in November, the coin encountered a pullback, causing the rally to stall. Recently, the coin price fell below $0.06 and hit $0.04, then briefly rebounded to $0.055, but was rejected again and fell steadily, eventually testing $0.032, which was the lowest point in a month.
Currently approaching the critical support level of $0.03, if this level holds, it may trigger new buying and help the bulls rebound. If the price falls further, it may fall to $0.02. In the past week, the coin has fallen by 36%. The bears are in control of the market. If it breaks through $0.031, the next support level may be $0.0263, and the lowest support is $0.0216.
If the price recovers above $0.0405, $0.048 is the next resistance and a breakout of $0.055 could prompt a move towards the monthly high of $0.065.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
